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Fleet Card Fuels Acquires Sabco Petroleum

Sabco distributes fuel to 58 Valero-branded gas stations.

December 15, 2009, 07:00 pm

LOS ANGELES -- Fleet Card Fuels of Bakersfield, acquired Sabco Petroleum Inc., based in San Bernardino, which distributes fuel to 58 Valero-branded gas stations in Los Angeles, San Bernardino, Riverside and Orange Counties, according to a report in Central Valley Business Times.

"This business opportunity is a solid fit for our company both strategically and culturally," said Henry Medina, Fleet Card Fuels president, in the report.

Samir Haggag formed Sabco Petroleum Inc. and started by branding his brother's locations. Sabco was incorporated in 2004 and began branding stations, with five in 2005.

"The obvious and clear next step is to merge or be acquired by a larger entity to expand beyond our current marketplace," Haggag said in the report. "Fleet Card Fuels brings the financial power, the people, and the resources to help us move faster toward our goals."